The heiress and her British banker husband James Rothschild welcomed their first child, daughter Lily Grace Victoria Rothschild, on Friday, July 8, in New York City, PEOPLE confirms.

News of the couple’s expanding family was confirmed exclusively to PEOPLE in January. The pair were married in a lavish Kensington Palace ceremony in London last July.

Hilton Rothschild, 32, had an especially chic pregnancy, celebrating with not one but two classy baby showers — one hosted by sister Paris Hilton at New York City’s Waldorf Towers and the other by mom Kathy Hilton at the Hotel Bel-Air in Los Angeles.

She also took on the task of dressing her growing baby bump with enviable style and ease, forgoing most traditional maternity wear in favor of flowy tops and dresses.

“I’ve just been buying clothes that are just a couple of sizes up, and they work,” she told PEOPLE at an N.Y.C. event in May.

And in June, Hilton Rothschild revealed that although she had given in and purchased “one pair of pregnancy jeans, one pair of leggings and one pair of workout leggings,” she had also started raiding her mom’s closet, sharing that the dress she wore to her N.Y.C. baby shower “was [Kathy’s] vintage Valentino.”

The mom-to-be gave her social media followers a glimpse into her baby girl’s nursery, sharing a photo of herself posing in the serene sleep space.

“I love cats so there are lots of vintage cat motifs and prints,” she previously told PEOPLE of the nursery, which she designed herself.